Construction costs are currently skyrocketing

So I hope that it is only a break and not a real cancellation. I’m keeping my fingers crossed for a good solution for you.

Well, a break would be nonsense, as everyone knows it will only get more expensive, not cheaper. So either we find a solution soon or well… you can imagine the rest…

These are actually my first posts, until now I was just a silent reader.

The plot is already paid for, our condominium sold, and the loan approved. We are building solidly with a general contractor and our problem now is that we are about to sign the contract but the prices keep going up. We had already signed an offer in December, but the prices have been increased twice due to the current situation and the construction company can no longer give us a fixed price for the contract.

Because of all the increases, our buffer is almost gone and we are now very worried that there will be further increases during the construction phase that we will not be able to pay in the end. Honestly, we don’t know what to do now.

Oh dear, that is really difficult. Especially since you basically have to build if the condo has already been sold. I would build, but look again where you can save. I wouldn’t build without any buffer and on a slope.

Come on, leave it. Unfortunately, the online world has been hijacked by [Berufsempörte]. It used to be called trolling, but today you'll definitely get canceled for that ;-)

It was a dumb joke, and that's it. Just move on.

Oh dear, that is really difficult. Especially since you actually have to build when the condo is already sold. I would build, but take another look where you can save. I wouldn’t build completely without a buffer and still on a slope.

Yes, we are currently also waiting for the final price statement from the general contractor. Then we will see if and how much buffer is left. There is hardly anything left to save on the house itself. The basement is more or less mandatory because of the slope, and otherwise we don’t have much living space nor unnecessary things like bay windows and such. There is also not much room for personal contribution.

It is simply frustrating. The future prices are just not predictable and that makes it very risky.

These are actually my first posts, until now I was only a silent reader. Due to all the increases, our buffer is almost gone and we are now very worried that there will be further increases during the construction phase that we will not be able to pay in the end. Honestly, we don’t know what to do now.

I can understand your thoughts and uncertainties. I also believe that there are many similar situations in other families. We are really glad that we managed to finish our little house and that we have been living in it since the end of February. If we were in the same situation today as we were a year ago, we probably would not continue the project but rather reevaluate it. You need to do that too. That requires Plan B. Your financial leeway is exhausted, so now is the time to stop. Without reserves, one cannot take the risk of building today. Plan B can be that you wait for somewhat better times regarding prices and availability, increase the budget (check additional financing), or reduce the current project (without knowing your planning) by 15 to 20%.

The plot of land is already paid for, our condominium has been sold, and the loan has been approved. We are building with a general contractor and our problem now is that we are about to sign the contract but the prices keep rising. We had already signed an offer in December, but the prices have been increased twice due to the current situation and, as far as the contract is concerned, the construction company can no longer give us a fixed price.

What exactly are they offering you? So no price commitment at all, or how does that work? If your loan is already approved, you could actually conclude the contract with the general contractor, right? However, I only know general contractors in connection with fixed prices. The cost certainty is precisely what is supposed to make this model attractive.